Once Chrysler emerges from bankruptcy, the automaker's current CEO Robert Nardelli, be replaced by an appointee selected by the oversight committee (likey Sergio Marchionne) and C. Robert Kidder will become the new Chairman of the (supposedly) revitalized Chrysler.
After weeks of speculation, Fiat confirmed today that its CEO, Sergio Marchionne, will assume the same role with Chrysler once it exits bankruptcy. According to statements from the Obama administration, Chrysler could emerge from "surgical bankruptcy" in as little as 30 to 60 days, after which Chrysler's current chief executive Bob Nardelli will step down and Marchionne will step in.
The next chief executive of Chrysler will be tasked with bringing the company out of bankruptcy, restructuring into a profitable business, repaying government loans (if and when they do so at all), integrating Fiat technology and retaining jobs wherever possible. Oh, and he or she will have to do it all on no more than $500,000 a year. This according to the latest reports, based on new Treasury Department regulations.
If you were surprised by the "resignation" of GM chief Rick Wagoner late last month, get used to the idea. Chrysler reportedly has some major management changes in store as well, including a new seven-member executive board including representatives from Fiat and the Obama administration's automotive task force. But while Bob Nardelli may stay on to chair that board, Chrysler's next CEO m
The president decreed that CEOs running banks that received TARP funds couldn't be paid more than $500,000 each year. Chrysler isn't a bank, yet it has received TARP funds, and its CEO, Bob Nardelli, is well under the $500,000. Or at least, he might be. During recent Congressional hearings Nardelli was asked if he'd take a pay cut to $1 a year, and he said he would; the only thing is,
It's far too early to come up with suitable jokes to make, so we'll just give you the facts. According to Germany's Der Spiegel magazine, Police are investigating a case of corporate eavesdropping in the form of a baby monitor that was found in the hotel room of Porsche CEO, Wendelin Wiedeking. Wiedeking was in Wolfsburg, Germany visiting Volkswagen headquarters for a board meeting when a security firm found the monitor behind a sofa in the CEO's room. An investigation is underway, howe
Geoff Polites, who's stewardship of Land Rover and Jaguar improved the health of both properties, has succumbed after a long illness. Polites led Jaguar and Land Rover back to collective profitability, and kept a steady hand on the helm during the upheaval surrounding the sale to Tata a month ago. While rumors swirled and pundits punned, it was Polites leadership that kept Jaguar and Land Rover on an even keel, with heads down and concentrating, instead of freaking out. Polites spent 40 years in
Tesla Motors has been operating with an interim CEO since last August when its founder, Martin Eberhard, stepped down as head of the company. Today the start up that promises to herald in a new era of EV motoring (if it can stay on schedule) announced the appointment of a permanent replacement. Ze'ev Drori will now be at the helm of Tesla Motors as it tries to guide the Tesla Roadster
According to UK-based media service Headline Auto, one of the hot rumors flying around the Auto Messe in Frankfurt earlier this morning was that China Automobile, the German importer for Chinese automaker Shuanghuan, was going to get booted out of the exhibit hall. The controversy stems from some bad blood brewing between Shuanghuan and the mainstream manufacturers whose designs it blatantly, unashamedly copies. On display in Frankfurt are the Shuanghuan
You might recall a post last week regarding a little tiff between Smart and Shuanghuan, the purveyors of the Noble, a dead ringer for the German firm's fortwo. That vehicle, along with an SUV dubbed the CEO, will be gracing the stand of the Chinese automaker next month in Frankfurt, and it looks as though BMW may be considering legal action as well.
And the other shoe drops. In an e-mail to customers, Tesla's Ex-CEO hinted that the Tesla may be delayed. Here is what he said. "And naturally, the question on many Tesla customers' minds is "When will I get my car?" The short answer is: We are still planning to start production of the Roadster by the end of next month and deliver the first cars to customers this fall. We have a good chance of meet
News of Tesla's co-founder and CEO Martin Eberhard stepping down has been making the rounds in both automotive and tech circles all morning. The gist is that Eberhard will become Tesla's President of Technology so he can stay hands on with the all-electric Tesla Roadster's development, while a man by the name of Michael Marks, formers CEO of a company called Flextronics and one
Tesla Motors has replaced Martin Eberhard as CEO. The new CEO is Michael Marks. Marks is the former CEO of Flextronics and an early investor in Tesla. Elon Musk will post this news to the Tesla website Monday.
Chrysler's new Chairman and CEO Bob Nardelli introduced himself at a press conference this morning as his new No. 2 Tom LaSorda stood by his side (more like directly behind him). LaSorda, who until this past weekend was CEO himself, is staying on the team, though his own No. 2, COO Eric Ridenour, has decided to leave the company after 23 years of service.
Immediately following the sale of Chrysler to Cerberus, people began speculating on what role former Chrysler exec Wolfgang Bernhard would take up in the newly minted Chrysler Corp. Even we jumped on the bandwagon and suggested Bernhard, who had been hired on by Cerberus to advise the sale, would be a likely replacement for Tom LaSorda if the automaker's current CEO couldn't turn around the company's fortune. The Wall Street Journal is reporting, however, that Bernhard will act as a high-level a
Victor Muller and Maartin de Bruijn (re)founded Spyker cars on January 1, 2000. De Bruijn, who was head designer, left in 2005, and ever since, Muller has played the role of designer in addition to his position as CEO and marketing chief. After seven years at the head of the company, Muller is stepping down from the role of CEO and will focus on the design and branding of Spyker Cars. His replacement will be interim CEO Michiel Mol, currently the director of racing
When possible, we like to cross-reference stories with other news sources before we report on them, and we've found this to be even more important when the topic at hand is hard data. When we came across a Reuters' story proclaiming that GM CEO Rick Wagoner was taking a 25-percent pay cut beginning in March of this year, a quick search of Google News revealed that, depending on the source, there could be a $370,000 discrepancy – and a possible raise for Wagoner.
